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who knows nothing about economics. social security, defense, medicare, medicaid, the health programs and the cost of interest on our debt are the five -- four main drivers of our debt. five main drivers of our debt. that's not going to change. 50% of our budget. a little bit more when you leave defense in there. we have to cut spending. why won't the president say look, we have to cut spending. it's like social security. we paid in all these years. people paid madoff. >> you're 100% right. revenues go up every year but spending goes up more. craig smith, thank you very much. >>> it's been almost a full hour, almost a full hour since the white house meeting started. ed henry at the white house on what we can glean from there. for an hour. we're 55 minutes into the meeting. is that a good sign or a bad sign? >> it could be a good sign. it's hard to tell but i will note previous times that the president had just speaker boehner over, those meetings would last 45, 50 minutes. now the fact we're getting on to an hour, maybe it will end in the next 30 seconds and my theory will be blown bu
's not just about defense or discretionary. >> is there any indication the president's deal, that he may come back with, will address spending? i haven't heard substantial spending cuts out of any deals on the left. >> absolutely you are not hearing that whatsoever. when i listen to senator chuck schumer say the president ran on raising taxes and says he won, we should do that, i have to tell you i'm not such and idiotic person to follow someone off into the abyss. this is a political gimmick the president ran on. he did win the election but when you look at the house, the republicans maintain their majority there and that's where revenue bills emanate from. >> we have to leave it there. always great to have you. >> happy new year. >> you too. amid all this fighting in washington, my next guest has a plan to fight the nation's debt and it doesn't rely on congress at all. scott wants to pay it off one dollar at a time. the retired army captain and small business owner. saucy, i met new the makeup room and you're a headlinedder. 7 minutes into the show and you're wearing i'm a limo guy. >> list
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